Cryptocurrencies have caught the eye of investors around the world. For all the interest around them, people find cryptocurrencies notoriously challenging to wrap their heads around. Several terminologies may seem confusing but aren’t if you delve a little deeper. However, the confusion surrounding cryptocurrencies does act as a deterrent for individuals who may want to learn more about them and the underlying technology.
A lot of people get confused between coins and tokens, often considering them the same. The truth is that there are huge differences between them and their uses.
To understand Coins, Altcoins and tokens better, we must first understand what cryptocurrencies are.
What Are Cryptocurrencies?
Cryptocurrencies are digital currencies secured using cryptography.
Cryptocurrencies run on Secured technology called Blockchain.
Cryptocurrencies are secured through cryptography and this makes it impossible to counterfeit.
Most cryptocurrencies are based on a decentralized network meaning it is has no central control so next time you are jumping on ponzi or Investment website using crypto as cover you do so because of your greed.
Cryptocurrencies are not issued by any central authority or financial institution, which means that theoretically, they are immune to government regulation and interference.
So if your CBN like they can continue to think they can stop crypto but no they can’t.
Bitcoin was the first decentralized cryptocurrency, powered by a public ledger on which the records of all transactions are stored.
Listen Bitcoin is not the first crypto but it succeeds where cryptos that come before it failed because it’s was decentralized. The government has been controlling money for a long time so people are waiting for a way out but when some people introduce crypto they want to be controlling people’s fund just like the government so they failed and likes of ONE COIN, TBC, or other centralized coins will later fail because they are a wolf in sheep clothing.
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MANY THINK CRYPTO WILL DIE BECAUSE OF ITS VOLATILITY BUT LET ME TELL YOU WHY CRYPTOCURRENCIES WILL CONTINUE TO GAIN MORE ACCEPTANCE
Show people the incentives, and you’ll see people rush to acquire it.
What investment can grow your $0.15/unit shares in July 2017 to $600 in April 2021? This is the story of BNB
What investment can grow your $0.003/unit shares in 2010 to $60,000 in 2021? This is the story of BTC
Show me the incentives and I’ll show you the outcome.”
People have not embrace crypto at all. Yes most people are still doing PONZI, HYIP and SCAMS but when they really understand what crypto you will be amazed how people will be ready to sell lands, golds and other assets to acquire the most profitable yet volatile assets in the world.
The reason why you are doing PONZI is that you don’t understand the power of volatility and patience as a virtue to hodl your coin instead of sending it to a journey of no return.
Bitcoin/crypto attracts new users for many reasons
? Everyone wants to make Money
? The shortest shortcut to get wealthy and stay WEALTHY
? People love FREEDOM
You are in charge of your money and it’s borderless
? Everyone is allowed. No discrimination. The poor can buy, the rich can buy yes crypto empowers the poor and increase prosperity in the world.
Crypto VOLATILITY makes it lovely as it will allow those that are just getting to know about it to take their spot or else if it continues to pump without dip forever many won’t be able to afford it.
Why do people Invest? To generate WEALTH
Investors buy Bitcoin/Crypto to generate wealth.
Due to max supply, crypotcurrencies were designed to pump forever because of the law of demand and supply, the lower the supply the higher the demand
They say FG print billions of Naira last month but do you know the total supply of bitcoin is only 21million units
Billionaires need crypto to protect their wealth.
They have a lot to lose & they’re vulnerable to confiscation. Bitcoin is insurance against collapse, confiscation, or a greedy state.
Billionaires make powerful allies in the battles that come.
Why are corporation/Billionaires buying BITCOIN?
They understand the power of Bitcoin/crypto that it protect their balance sheets.
While governments compete to devalue their currency, many corporations cannot generate a positive return on capital. Bitcoin protects the treasury.
FG wants to borrow more loans to service more projects that won’t bring money what will happen to your Naira?
So people having Billions in Naira knows their billion will lose it buying power if $ equals to ₦1,000 so they rather save in USD but government will hunt or charged them for money laundering if they want to change huge amount of Naira to USD or GBP which is why they buy bitcoin or convert their money to USDT or other stable coins.
What’s the value of ₦100,000 ten years ago to ₦100,000 right now? Ask yourself but do you know if you invest ₦100,000 in Bitcoin 10 years ago by now you must be a billionaire in Naira. Do the math 10 years ago is 2011.
Let’s use google to do the math
Now how many dollars will ₦100,000 give you in 2011
That’s 100,000 divide by 162 = $617
1btc = $1 in 2011
Meaning your $617 will get you 617BTC
Please hold something to think about how much 617BTC is today
Bitcoin is around $59,000 as at the time of writing this post
That’s 617X $59,000 to $60,000
Let us use $59,000
SO 617BTC X $59,000 that’s $36,403,000
How much is $ to Naira in 2021? Lets use Google
Let’s use 388
So $36,403,000 multiplied by ₦388 equals to ₦14,124,364,000
How can you explain this to anyone and he/she will not jump into crypto. That ₦100,000 will become ₦14,000,000,000 in 10 years.
But we all missed this because we don’t seek knowledge first the only thing we all want is quick money.
That’s why you are still doing PONZI and looking for half-life business online that you will put ₦100000 to and will be giving you ₦50,000 monthly you are a thief and if they scam I wont pity you.
Do you see why people will continue to embrace crypto. It’s is only those that didn’t know the secret that wont buy crypto and invest in it. But there are downsides if you are coming as a gambler that’s why you need education.
You must learn about profit management in crypto in other to keep your profits…
Whether you are in for mid/short term or long term
After a bull market, what follows next is a bear market (this is how the market works)
It’s advisable to sell off and wait for a bear to buy back, even if you are not on for short and mid-term investors after bull run .
As Long-term investors, it is advisable to take profits (sell the profits made and leave their capital) and buy more of the coins they are holding or diversify when dips come.
But how do you know when the market will dip or bull??
This is why you need to buy education and join up-to-date crypto communities
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When people know the truth about Bitcoin/Crypto its global dominance is guaranteed just let people know the truth you will be amazed.
As you invest in crypto be careful who you listen to and take advice from.
Remember: in a bull market, everybody is a trading genius.
Before you invest in something, invest in time to understand it.
Those who don’t do this will always fall prey to Ponzi schemes.